What is a Current Liabilities - Bank Loan, Current Portion

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Question - Suppose a business receives a $476,000 long-term bank loan on December 31, 2019. The borrowing arrangement requires the business to pay $119,000 by September 2020. Show how the business will report both current and long-term liabilities on its December 31, 2019 balance sheet. What is a Current Liabilities: Bank Loan, Current Portion?

Reference no: EM132885801

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